įounded in 1987, CardWorks is a consumer finance lender and servicer, and a people-centric, compliance-focused organization enabled by data and technology. Our robust corporate finance business offers capital for equity sponsors and middle-market companies.įor more information and disclosures about Ally, visit. Additionally, we offer securities-brokerage and investment-advisory services through Ally Invest. Our award-winning online bank ( Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage lending, personal lending, and a variety of deposit and other banking products, including savings, money-market, and checking accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). We are one of the largest full-service automotive-finance operations in the country and offer a wide range of financial services and insurance products to automotive dealerships and consumers. As a customer-centric company with passionate customer service and innovative financial solutions, we are relentlessly focused on "Doing it Right" and being a trusted financial-services provider to our consumer, commercial, and corporate customers. (NYSE: ALLY) is a leading digital financial-services company with $182.5 billion in assets as of March 31, 2020. Ally is resilient and adaptable, powered by a vibrant, inclusive culture that will continue to 'Do It Right' for our customers, our communities and our shareholders."Īlly Financial Inc. We will leverage these strengths as we grow and diversify our company moving forward. Our industry-leading businesses and robust capital and liquidity positions will enable us to continue serving as a source of strength during these uncertain times for all of our customers. Brown continued, "Ally's long-term strategic priorities remain intact, rooted in a relentless focus on our customers. I want to express my deep appreciation for the considerable efforts and incredible commitment demonstrated by Ally and CardWorks employees." "This was a difficult decision to make following a long process to bring two strong companies together. "Given the unprecedented economic and market conditions resulting from the COVID-19 global pandemic, Don Berman and I, along with our boards of directors, believe it is in the best interests of our customers and stakeholders to terminate the agreement," said Ally Chief Executive Officer Jeffrey J. Neither party will incur any termination or break-up fees as a result of the mutual decision to terminate the merger agreement. The board of directors for each company approved the termination after carefully considering the meaningful impacts of COVID-19 on global markets and the economy. (CardWorks) today announced that they have mutually agreed to terminate their merger agreement, which had been announced on February 18, 2020. (NYSE: ALLY) and Cardholder Management Services, Inc. CHARLOTTE, N.C., J/PRNewswire/ - Ally Financial Inc.
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